The price for a house is $307,574, the monthly payment for a 30-year mortgage at a rate of 7.361%.

To calculate the monthly payment for a 30-year mortgage (360 months) at an interest rate of 7.361% for a house priced at $307,574, we will use the formula for the monthly mortgage payment:

\[
M = P \times \frac{r(1 + r)^n}{(1 + r)^n - 1}
\]

Where:
- $ M $ is the monthly payment
- $ P $ is the loan amount (house price: $307,574)
- $ r $ is the monthly interest rate (annual interest rate divided by 12)
- $ n $ is the number of payments (30 years × 12 months = 360)

### Step-by-Step Calculation:

1. **Loan amount (P)**: $307,574
2. **Annual interest rate**: 7.361% (which is 0.07361 as a decimal)
3. **Monthly interest rate (r)**: $ 0.07361 / 12 = 0.0061342 $
4. **Number of months (n)**: $ 30 \times 12 = 360 $

Now, I'll calculate the monthly payment.The monthly payment for a 30-year mortgage at a 7.361% interest rate for a house priced at $307,574 is approximately **$2,121.40**.

Would you like more details or have any questions? Here are some related questions:

1. How does changing the interest rate affect monthly payments?
2. What is the total interest paid over the life of this mortgage?
3. How much is paid in total after 30 years?
4. How would a shorter loan term (e.g., 15 years) affect the monthly payment?
5. What happens if an extra payment is made towards the principal each month?

**Tip**: A lower interest rate can significantly reduce your monthly payments, making it worthwhile to shop around for better mortgage rates.

Learn how to calculate the monthly payment for a $307,574 house with a 30-year mortgage at an interest rate of 7.361%. This detailed guide walks you through the financial formula, including monthly interest rate and payment calculations. Suitable for students and home buyers interested in mortgage math.

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